Adelaide

German Club says auf Wiedersehen to historic headquarters

The South Australian German Club has listed its historic headquarters in Adelaide’s CBD for sale after more than a century of ownership.

16 Oct 2018

The South Australian German Club has listed its historic headquarters in Adelaide’s CBD for sale after more than a century of ownership. 

The 943sqm property was originally purchased in 1913 as two small, separate cottages and was fully developed in the 1970’s to cater for an expanding member pool and demanding customer base.

The three-storey, mixed-use asset offers potential for a range of operations, including commercial, retail, professional services, hospitality, entertainment, educational facilities and medium/high density living.

CBRE’s Ned Looker, Mitch Curnow and Harry Einarson have been appointed to sell the 221-225 Flinders Street site with vacant possession.

Mr Looker noted that the building was expected to be in high demand, with its strong history making it a significant CBD asset. 

“This is truly an iconic building and we are sure there will great demand throughout the campaign, with it being very reasonably priced,” Mr Looker said.

“The building offers flexible space, which would appeal to a variety of buyers and end-uses. There is so much opportunity to redevelop or refurbish into a highly functional, mixed-use building.”

Mr Curnow added; “The list of neighbouring transactions reflected the eastern precinct’s recent winning streak. Grant Thornton occupies a large space close by, WOTSO Group has purchased a neighbouring property and, in another clear sign of market confidence, the eastern precinct skyline is filled with cranes.”

The Flinders Street property is being offered through an Expressions of Interest campaign, closing Thursday, November 8 at 2pm (ACDT). For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.